InSite Vision, an ophthalmic therapeutics, diagnostics and drug delivery company, announced the US launch and commercial availability of AzaSite (azithromycin ophthalmic solution) 1% for the treatment of bacterial conjunctivitis by Inspire Pharmaceuticals. Inspire said AzaSite has been shipped to pharmacies throughout the US, and Inspire's sales force of 98 sales representatives has begun product education outreach to physicians.
Esprit Pharma has exercised its option to acquire the marketing rights of the recently approved Sanctura XR (trospium chloride extended release capsules). Esprit Pharma paid the milestone due upon approval by the FDA to its development and co-promotion partner, Indevus Pharmaceuticals, securing Esprit rights to market Sanctura XR in the US. Indevus announced on Aug. 6, that Sanctura XR had been approved by the FDA. Sanctura XR is indicated for the once-daily treatment of overactive bladder with symptoms of urge urinary incontinence, urgency, and urinary frequency.
LifeCycle Pharma and Sciele Pharma, announced that LifeCycle Pharma has received FDA approval for LifeCycle Pharma's novel formulation of fenofibrate in 120 mg. and 40 mg. dosage strengths for the treatment of hyperlipidemia and hypertriglyceridemia. This fenofibrate utilizes LifeCycle Pharma's meltdose technology which is designed to provide enhanced absorption and greater bioavailability. Under the terms of the agreement with Sciele, LifeCycle Pharma has already received an up-front payment of $5 million, and will receive a further $4 million milestone payment now that this fenofibrate product has received FDA approval. LifeCycle Pharma will also receive milestone payments of up to $8 million when certain sales targets are met, and tiered royalty payments on product sales. The receipt of $4 million in approval milestone does not change LifeCycle's financial expectations for 2007. This fenofibrate product will have the lowest dosage strengths of fenofibrate available for patients and will be marketed in the US by Sciele Pharma's primary care sales force by the end of 2007. Sciele Pharma currently has approximately 450 primary care sales representatives.